Ricky Martin sold a 2.37-acre Beverly Hills estate for $15 million in 2006; after renovation, Michael Caine’s former mansion was listed for $75 million in 2025, cut to below $50 million, and finally sold for $35 million

The massive Beverly Hills mansion that was once owned by Michael Caine and Ricky Martin has found a buyer after being listed for four months. The deal for the Benedict Canyon estate was closed for $35 million after a huge discount, according to a report by Realtor.com. The buyer has not been identified. Carl Gambino of the Gambino Group at Compass represented both sides of the sale. The specifics of the sale are not available.

Doris Day’s family, then Caine, then Martin

Built in 1956, the Tuscan-style residence sits on 2.37 acres in the Benedict Canyon neighbourhood. The ‘legendary’ Beverly Hills mansion has had many owners since. Doris Day’s family lived in the mansion for several years before it passed to Michael Caine, who is now 92. Ricky Martin lived there from 2004 until 2006.Martin sold the house to Michael Smith, CEO of natural gas exporter Freeport LNG, and his wife, Iris, for $15 million in 2006.The Smiths kept it for close to two decades as one of several homes in their property portfolio. The couple also had a Malibu beachfront home that they purchased from Hard Rock Cafe founder Peter Morton for $110 million, according to The Real Deal.For sellers, the rich Hollywood history was part of the pitch. Privacy and picturesque views are some other perks. “This exceptional Beverly Hills estate offers an unmatched combination of privacy, history, and panoramic views, presenting a rare opportunity to own one of the area’s most storied and breathtaking properties.”

From $75 million to $35 million in four months

Pic credit: Realtor.com

In August 2025, the Smiths listed the property on the market, asking $75 million, which is almost five times what they had paid for.But despite the famous previous owners, buyers did not rush in. A few weeks later, the asking price fell to just under $50 million. Real estate agent Carl Gambino of the Gambino Group at Compass took over the listing.The revised figure still didn’t attract buyers. The listing lingered until December. A famous address and a fresh renovation were not enough to hold the first asking price.Finally, on December 30, the deal was closed. The buyer paid $35 million, which is about 47 per cent of the original asking price. A $40 million gap. It still sits roughly $20 million above what the Smiths paid in 2006, before any renovation costs are counted. From listing to closing, about four months passed. The identity of the buyer remains unknown, and the price and closing date are the only hard details so far.

What the buyer gets

The six-bedroom main house was pitched as the best of both worlds in terms of extravagance and comfort, with living spaces that feel spacious and cosy at once.“The grounds include a luxurious main residence, guest house, lighted tennis court with pavilion, separate children’s playground and play court, and a dedicated security house—all surrounded by vast lawns, lush gardens, and mature landscaping,” the description on the listing reads.The primary suite “features its own terrace with city and ocean views”. It also has a private sitting room, two bathrooms with dressing areas, enormous closets, and an adjoining flex room described as “ideal for a nursery, massage room, office or additional wardrobe.”A private home theatre with its own snack room and a large kitchen are some of the highlights.Beyond the main house, the parcel holds a guest house, a lighted tennis court with a pavilion, a separate children’s playground and play court, and a dedicated security house. From there, “state-of-the-art home, perimeter, and grounds security systems” are monitored.The house is designed to take full advantage of the views. The pool gives a beautiful view of the ocean. “From the moment you arrive, the most striking feature is the panoramic views—stretching from Mid-Wilshire, over Santa Monica and the ocean, all the way up the coast to Malibu,” the listing says.“These sweeping vistas can be enjoyed from nearly every part of the estate, including all the primary rooms, patios, yards, and terraces. Even the pool is positioned to allow for ocean views while swimming.” The property also has an orchard, herb and rose gardens, and a motor court that can hold up to 20 cars.